IRIS Accounts Production v23.4.0.336 08120519 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081205192022-03-31081205192023-03-31081205192022-04-012023-03-31081205192020-11-30081205192020-12-012022-03-31081205192022-03-3108120519ns15:EnglandWales2022-04-012023-03-3108120519ns14:PoundSterling2022-04-012023-03-3108120519ns10:Director12022-04-012023-03-3108120519ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3108120519ns10:SmallEntities2022-04-012023-03-3108120519ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3108120519ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3108120519ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3108120519ns10:FullAccounts2022-04-012023-03-3108120519ns10:RegisteredOffice2022-04-012023-03-3108120519ns5:CurrentFinancialInstruments2023-03-3108120519ns5:CurrentFinancialInstruments2022-03-3108120519ns5:Non-currentFinancialInstruments2023-03-3108120519ns5:Non-currentFinancialInstruments2022-03-3108120519ns5:ShareCapital2023-03-3108120519ns5:ShareCapital2022-03-3108120519ns5:CapitalRedemptionReserve2023-03-3108120519ns5:CapitalRedemptionReserve2022-03-3108120519ns5:RetainedEarningsAccumulatedLosses2023-03-3108120519ns5:RetainedEarningsAccumulatedLosses2022-03-3108120519ns5:MotorVehicles2022-04-012023-03-3108120519ns5:ComputerEquipment2022-04-012023-03-3108120519ns5:PlantMachinery2022-03-3108120519ns5:PlantMachinery2022-04-012023-03-3108120519ns5:PlantMachinery2023-03-3108120519ns5:PlantMachinery2022-03-3108120519ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-03-3108120519ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-04-012023-03-3108120519ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3108120519ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-03-3108120519ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108120519ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3108120519ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3108120519ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3108120519ns5:Secured2023-03-3108120519ns5:Secured2022-03-31081205191ns10:Director12022-03-31081205191ns10:Director12020-11-30081205191ns10:Director12022-04-012023-03-31081205191ns10:Director12020-12-012022-03-31081205191ns10:Director12023-03-31081205191ns10:Director12022-03-31
REGISTERED NUMBER: 08120519 (England and Wales)









Financial Statements

for the Year Ended 31 March 2023

for

London Refurbishment Service Ltd

London Refurbishment Service Ltd (Registered number: 08120519)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


London Refurbishment Service Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr J H Paterson





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 08120519 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

London Refurbishment Service Ltd (Registered number: 08120519)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 122,374 162,652

CURRENT ASSETS
Inventories 5 93,732 29,550
Debtors 6 335,573 238,869
Cash at bank 32,614 286,657
461,919 555,076
CREDITORS
Amounts falling due within one year 7 155,208 213,219
NET CURRENT ASSETS 306,711 341,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,085

504,509

CREDITORS
Amounts falling due after more than one
year

8

(91,671

)

(125,183

)

PROVISIONS FOR LIABILITIES (11,206 ) (14,275 )
NET ASSETS 326,208 365,051

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 326,108 364,951
326,208 365,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 March 2024 and were signed by:




Mr J H Paterson - Director


London Refurbishment Service Ltd (Registered number: 08120519)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

London Refurbishment Service Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

London Refurbishment Service Ltd (Registered number: 08120519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2022 257,268
Additions 795
At 31 March 2023 258,063
DEPRECIATION
At 1 April 2022 94,616
Charge for year 41,073
At 31 March 2023 135,689
NET BOOK VALUE
At 31 March 2023 122,374
At 31 March 2022 162,652

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 50,500
DEPRECIATION
At 1 April 2022 14,729
Charge for year 8,943
At 31 March 2023 23,672
NET BOOK VALUE
At 31 March 2023 26,828
At 31 March 2022 35,771

5. INVENTORIES
2023 2022
£    £   
Work-in-progress 93,732 29,550

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 128,969 53,704
Other debtors 170,179 185,165
Directors' current accounts 26,874 -
Tax 9,551 -
335,573 238,869

London Refurbishment Service Ltd (Registered number: 08120519)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 3,512 3,512
Trade creditors 17,339 41,235
Tax - 6,699
Social security & other taxes 11,185 21,139
Value added tax 21,790 47,929
Other creditors 7,715 446
Directors' current accounts - 39,905
Accruals & deferred income 63,667 22,354
155,208 213,219

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2-5 years 72,500 102,500
Hire purchase contracts 19,171 22,683
91,671 125,183

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 102,500 132,500

The bank loan is secured by a fixed and floating charge over the assets of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

2023 2022
£    £   
Mr J H Paterson
Balance outstanding at start of year - -
Amounts advanced 26,875 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,875 -

The loan to the Director in the sum of £26,875 has been repaid in full after date. Interest has been charged at a market rate